Rockland, MA – January 10, 2023 – Cutter Associates, a leading provider of research and consultancy services for asset managers, asset owners, and other investment companies around the globe, has appointed Cindy Castellano, CFA, as CEO effective April 1, 2023. She will replace current CEO John Clark.

Clark, CEO of Cutter since April 2019, has been with Cutter Associates since its inception in 1999. He will remain involved with Cutter, helping to grow the firm’s research membership and consultancy business in the European and US markets.

Castellano, who joined Cutter in 2009, currently serves as a Managing Principal and a practice leader. She created and led the firm’s Client Facing practice, advising investment management firms on how to improve their client experience technology operations. “Under Cindy’s direction, our Client Facing practice revenue has grown nearly fourfold in the past seven years and has become a leading business line for Cutter and a relevant service for our clients. I am excited to see Cindy continue to expand the business moving forward,” Clark said.

Prior to joining Cutter, Castellano served as Vice President and Head of Operations for Security Global which was acquired by Guggenheim Investments. She was responsible for firm-wide middle- and back-office functions. Prior to that, she served as Vice President and Head of Equities, leading the firm’s investment team and supervising equity trading activities.

“I’m extremely honored to be appointed as incoming CEO at Cutter”, Castellano said. “I look forward to continuing our long-standing position as a trusted advisor in the investment management industry, strategically advancing our business, and deepening our relationships with our research members and consulting clients around the world.”

About Cutter Associates

Cutter Associates, LLC serves the operational, technology, and client experience needs of the global asset and wealth management industry, providing companies the tools and services they need to be successful. With deep industry and domain experience and expertise, Cutter Associates provides independent research, exclusive member-only events, custom operations benchmarking, a global consultancy, and a vast peer network. Headquartered in Rockland, MA, and owned by NRI Group, in Tokyo, Japan, Cutter Associates has subsidiaries in Canada and the UK, and offices in London and Sydney. For more information, visit us at Connect with us on Twitter and LinkedIn.

About NRI

Founded in 1965, NRI is a leading global provider of consulting services and system solutions, including management consulting, system integration, and IT management and solutions for the financial, manufacturing, retail and service industries. Clients from all layers of these individual industries partner with NRI to tap NRI’s research expertise and innovative solutions across the organization to expand businesses, design corporate structures and create new business strategies. NRI has more than 16,000 employees in more than 100 offices globally including New York, London, Tokyo, Hong Kong, Singapore, and Australia. NRI reports annual sales above $4.9 billion. NRI is rated “A” by S&P Global Ratings Japan. For more information, visit

For more information or to get in touch with a Cutter Associates representative in your region, contact us at [email protected].

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Jennifer Murray

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